4 research outputs found
Production lot size models for perishable seasonal products
Seasonal items like fruits, fish, winter cosmetics, fashion apparel, etc. generally exhibits different demand patterns at various times during the season. Production and inventory planning must reflect this property for cost effectiveness and optimization of resources. This paper presents two production-inventory models for perishable seasonal products that minimize total inventory costs. The models obtains optimal production run time and optimal production quantity for cases when the production rate is constant and when it is allowed to vary with demand. The products are assumed to deteriorate at an exponential rate and demand for them follows a three-phase ramp type pattern during the season. Numerical examples and sensitivity analysis are carried out. Production run time and production quantity obtained by the model were found to be independent of cost parameters. The variable production rate strategy was also found to give lower inventory costs and production quantity than the constant
production rate strategy
An EPQ model with trapezoidal demand under volume flexibility
In this paper, we explored an economic production quantity model (EPQ) model for finite production rate and deteriorating items with time-dependent trapezoidal demand. The objective of the model under study is to determine the optimal production run-time as well as the number of production cycle in order to maximize the profit. Numerical example is also given to illustrate the model and sensitivity analyses regarding various parameters are performed to study their effects on the optimal policy
Optimal production stopping time for perishable products with ramp-type quadratic demand dependent production and setup cost
Inventory, Ramp-type demand, Demand dependent production,
A forward with backward inventory policy algorithm for nonlinear increasing demand and shortage backorders
The traditional inventory policies have been developed for constant demand processes. In reality, demand is not always stable; it might have an increasing pattern. In this paper, a forward with backward inventory policy
algorithm is developed to determine the operational parameters of an inventory system with a nonlinear increasing demand rate, shortage backorders and a finite planning horizon. Numerical experiments are also conducted to compare the results with the existing techniques and to illustrate the applicability of the
proposed technique